A change in HUD's strategy may have nonprofits and housing authorities housing authorities begging for money from Wall Street rather than HUD.
"Faced with a $7 million gap for one of the project's 12 buildings... and after exhausting possibilities for local and federal low-income housing funds, Ms. Steen's nonprofit... tried something new: They borrowed the money from Fannie Mae, the Washington-based government-chartered mortgage-market concern, and Bank of America Corp., of Charlotte, N.C. As collateral for the loan, they used anticipated annual grants from the Department of Housing and Urban Development that were earmarked for building improvements like roof repairs." [Editor's note: The link below is available to non-subscribers for a period of 7 days.]
Thanks to Chris Steins
FULL STORY: HUD Looks to Private Sector For Funds for Rehabilitations

Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

Chicago’s Ghost Rails
Just beneath the surface of the modern city lie the remnants of its expansive early 20th-century streetcar system.

Amtrak Cutting Jobs, Funding to High-Speed Rail
The agency plans to cut 10 percent of its workforce and has confirmed it will not fund new high-speed rail projects.

Ohio Forces Data Centers to Prepay for Power
Utilities are calling on states to hold data center operators responsible for new energy demands to prevent leaving consumers on the hook for their bills.

MARTA CEO Steps Down Amid Citizenship Concerns
MARTA’s board announced Thursday that its chief, who is from Canada, is resigning due to questions about his immigration status.

Silicon Valley ‘Bike Superhighway’ Awarded $14M State Grant
A Caltrans grant brings the 10-mile Central Bikeway project connecting Santa Clara and East San Jose closer to fruition.
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